Equinor and partners award first Brazil oilfield contracts (updated)

Modec

30/01/2020 08:18

* Eyes 2023-2024 start-up, 30 years of output
    * First phase could see 220,000 barrels oil per day
    * Field renamed Bacalhau from Carcara previously

 (Adds quote, background, detail)
    OSLO, Jan 30 (Reuters) - Norway's Equinor  EQNR.OL  and
partners ExxonMobil  XOM.N  and Petrogal Brasil have awarded
engineering contracts for a planned Brazilian oilfield
development, the Norwegian operator of the project said on
Thursday.
    A design contract for a floating oil production and storage
vessel (FPSO) was awarded to Japan's Modec Inc  6269.T , while
seabed systems (SURF) will be planned by the Subsea Integration
Alliance, formed by Subsea 7  SUBC.OL  and OneSubsea.
    A final investment decision for the Bacalhau field, formerly
known as Carcara, will be made this year, Equinor said.
    Production from the field's first phase could start in 2023
or 2024 with oil output of up to 220,000 barrels per day, and
lasting for 30 years, the company said.
    "Awarding these contracts is an important milestone in
developing the Bacalhau area," said Anders Opedal, Equinor's
head of technology, projects and drilling.
    If the project gets formal go-ahead, Subsea 7's part of the
order will likely generate revenue of more than $750 million,
the company said in a separate statement.
    Operator Equinor has a 40% stake in the development, as does
ExxonMobil, while Petrogal Brasil has a 20% stake.
    Bacalhau is the traditional name for dried, salted cod which
Norway for centuries has sold to Portuguese-speaking countries.


 (Reporting by Terje Solsvik; editing by David Evans and Jason
Neely)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70))